Life Insurance for Seniors Over 75
Even at 75 or older, life insurance can serve an important purpose. The right policy can help loved ones cover final expenses, settle outstanding debts, or provide a small financial cushion after you’re gone. Though, finding life insurance in your late 70s can be a challenge, but there are options that may work for you. We’ll explain the types of policies available for seniors over 75, what they cost, and how to choose the best fit for your needs.
Key Takeaways
Even at age 75 or older, life insurance can help cover final expenses, leave a small legacy, or protect loved ones financially.
The key is to match the policy type to your health, budget, and goals, while understanding the trade-offs in cost, coverage, and eligibility.
Common available options include final expense or burial insurance, guaranteed issue life insurance, and simplified issue life insurance.
What Life Insurance Looks Like After Age 75
A life insurance policy after age 75, will certainly look different that how it does for most people who get it early in their life. Here’s what you should know:
- Coverage amounts are typically lower and mostly enough to cover end-of life expenses rather than long-term income replacement
- You may come across very limited policy options
- Due to high health risk, not many insurers may be willing to insure you
- Premiums costs are often higher across all policy types
Life insurance for seniors over 75 usually leads to no-medical exam options like burial insurance, guaranteed issue, or simplified issue.
Who Can Own the Policy and Pay the Premiums
It’s not necessary that the insured and the policyowner be the same person in a life insurance policy. So, for seniors over 75, adult children and family members can also get the policy to get the elders in the family insured.\ \ Here’s how it works:
- The insured person gives consent and signs the application.
- The policy owner manages the policy structure and makes adjustments if needed, from choosing the beneficiaries to managing payout options. If the owner is the payor, they are also responsible for premium payments.
For many families, this is a suitable arrangement to ensure end-of-life costs of seniors don’t leave a financial burden behind. But, if the costs fit comfortably in the retirement income or pensions, seniors can be both policy owners and insured and can themselves manage and pay.
Why Seniors Over 75 Still Consider Life Insurance
Getting life insurance after age 75 typically comes with fewer policy options than for younger applicants. However, certain types of life insurance are specifically designed for seniors and can help cover final expenses, provide financial support for loved ones, or leave a modest legacy.
In later stages of life, these policies can offer peace of mind and help ensure financial stability for beneficiaries. Many seniors age 75 and older seek life insurance coverage for:
- Final expenses such as funeral and burial costs
- Unpaid debts like credit cards, personal loans, or remaining medical bills
- Leaving a legacy for children, grandchildren, or a favorite charity
- Replacing lost income if a surviving spouse depends on pensions or other benefits that may be reduced
While your coverage amount might be smaller than what younger people purchase, having a plan in place can give both you and your loved ones peace of mind.
Read: Life Insurance for Seniors Over 60
Types of Life Insurance Available for Seniors 75+
If you’re looking for life insurance over 75, there are policy options that can meet specific financial goals. The right choice depends on your health, budget, and how you plan to use the coverage.
Final Expense (Burial) Insurance
Designed to cover end-of-life costs, final expense insurance typically offers smaller coverage amounts, often between $5,000 and $25,000. It’s meant to help pay for funeral arrangements, burial or cremation, and related expenses. Premiums are generally affordable for the coverage amount, and approval is often simple.
Guaranteed Issue Life Insurance
Guaranteed issue policies are a type of whole life policy designed for people who may not qualify for traditional coverage due to age or health conditions. Approval is guaranteed—there are no medical exams or health questions. Coverage amounts are typically modest, ranging from about $5,000 to $25,000, and the main purpose is to help cover funeral expenses and small debts. Most policies include a graded death benefit for the first two years, meaning the full benefit isn’t paid out if the insured dies from natural causes during that period.
Simplified Issue Life Insurance
Another no-medical-exam option you may explore is simplified issue life insurance. It is comparatively less expensive than the guaranteed issue policy type. Though it skips medical examination through lab tests, insurers often seek your health details through questionnaires that are verified through previous medical records. If you’re in relatively better health, this option can be a smarter fit to secure coverage than to apply for guaranteed issue at higher premiums.
No-Medical-Exam Whole or Term Life
Some companies, like Ethos, offer access to whole or term life insurance with simplified underwriting, which skips the medical exam but instead asks a few health questions. Coverage amounts are typically higher than guaranteed issue, and premiums depend on your age and health. This can be a good middle ground for those who want more coverage than final expense policies usually provide, but still want to avoid a lengthy application process.
Term Life vs Whole Life After Age 75
- Term life is often harder to qualify for after age 75, but a short-term policy may be available from some insurers. It’s generally the most affordable for the coverage amount, though it expires after the set term.
- Whole life provides lifelong coverage with fixed premiums and a guaranteed death benefit, though it typically comes at a higher cost, and coverage amounts may be small for older people.
Comparison of Life Insurance Options for Seniors Over 75
| Policy type | Best for |
|---|---|
Final expense/burial insurance | Covering funeral costs and small debts |
Guaranteed issue whole life | Seniors with health issues who want end-of-life coverage |
Term life or whole life | Relatively healthy seniors who want more coverage |
Simplified issue life insurance | Seniors who want faster approval and maintain a decent health profile indicated through medical records |
Read: Why you Need both Life and Disability Insurance
How Much Does Life Insurance Cost After 75?
At this age, premiums will be higher than for younger applicants, and coverage amounts may be more limited. Rates are based on factors like policy type, coverage amount, health status, and whether medical underwriting is required.
- Final expense and guaranteed issue policies often have smaller coverage amounts and predictable monthly costs.
- No-medical-exam term or whole life policies, if available, may offer higher benefits but at a much greater cost.
Because life expectancy and risk are factored heavily into pricing, the most affordable options for many seniors over 75 are policies designed to cover end-of-life expenses rather than replace income. Comparing quotes from multiple insurers can help you find the balance between premium affordability and the coverage you need.
Here are some estimated monthly premium rates1 for life insurance for seniors over 75 (age 80 in this case) to give you a general idea of what to expect.
| Policy Type | Coverage Amount | Male | Female |
|---|---|---|---|
10-year term life | $100,000 | $544 | $476 |
Whole life | $100,000 | $984 | $834 |
Guaranteed universal life | $100,000 | $736 | $649 |
Simplified issue whole life | $10,000 | $188 | $97 |
Guaranteed issue whole life | $10,000 | $227 | $183 |
How to Choose the Best Policy at 75+
When buying life insurance at 75 or older, it’s important to focus on policies that meet your goals without straining your budget.
- Start by deciding exactly what you want the policy to cover – whether that’s funeral expenses, paying off small debts, or leaving a modest gift to loved ones.
- Look for an insurer with strong financial ratings and a history of paying claims promptly.
- Review the policy’s terms carefully, paying attention to waiting periods, coverage limits, and whether premiums are fixed or may increase over time.
- If possible, work with a licensed agent or use an online comparison tool to see side-by-side quotes from different companies.
- Finally, be realistic about how much coverage you need versus how much you can comfortably afford.
For many seniors over 75, a smaller policy that’s guaranteed to be in force when it’s needed is better than stretching to pay for more coverage than your budget allows.
Expert Tip
Is Life Insurance Better Than Prepaying Funeral Costs After Age 75?
For many seniors over 75, life insurance offers more flexibility than prepaying funeral costs. Final expense or guaranteed issue policies can cover funeral expenses as well as unpaid medical bills or debts. Prepaid funeral plans may make sense if you have sufficient savings and fixed preferences, but funds are usually limited to funeral services only. In general, life insurance favors flexibility, while prepaying prioritizes simplicity.
Senior Director Life Underwriting
Who Life Insurance for Seniors Over 75 Is Right For (and Who It Isn’t)
Life insurance after age 75 is often more expensive and usually designed for smaller financial needs. Before buying a policy, it’s important to consider whether the cost makes sense based on your savings, obligations, and goals.
Life insurance after age 75 may be a good fit if you:
- Want coverage for final expenses such as funeral and burial costs
- Don’t have enough savings to cover end-of-life expenses or outstanding debts
- Want to leave a modest financial cushion for a spouse or family members
Life insurance after age 75 may not be a good fit if you:
- Already have sufficient savings to cover final expenses
- Have prepaid funeral or burial arrangements
- Would struggle to afford ongoing premium payments
Read: Life Insurance Policy for Parents
How to Apply & What to Expect
Applying for life insurance after age 75 is typically more straightforward than many expect, especially with policies designed for older adults.
- In most cases, the application process involves answering basic health questions, providing personal and financial details, and consenting to a review of your prescription history or medical records.
- Some policies require a short phone interview, while others (such as guaranteed issue life insurance) skip medical questions entirely. If a policy does require a medical exam, it’s usually brief and can be done at home or in a clinic.
- Once the application is submitted, approval times can range from a few minutes for simplified policies to a couple of weeks for those requiring more underwriting.
FAQs on Life Insurance for Seniors Over 75
Yes. Seniors over 75 can get life insurance with no medical exam, usually through final expense, guaranteed issue whole life, or simplified issue policies. These plans don’t require a physical exam or lab tests, but coverage amounts are typically limited to $5,000-$25,000, and premiums are higher due to age.
Guaranteed issue is a type of whole life insurance that does not require medical exams or health questions. Approval is guaranteed as long as you meet the age requirements, making it a good fit for seniors with serious health issues. It usually has lower benefit amounts and a waiting period before full coverage kicks in.
Life insurance costs more after age 75 because insurers expect a shorter time between when a policy starts and when it pays out. Health risks increase with age, and many policies at this stage don’t require medical exams, which raises premiums. As a result, coverage is usually smaller and more expensive than it is for younger applicants.
Life insurance for seniors above 75 can be a worthwhile option for those who don’t have enough savings to cover end-of-life costs, clear off debts, or fulfill other financial obligations. It can add value by leaving behind substantial financial protection for your loved ones.
Most seniors choose between $10,000 and $25,000 in final expense or burial insurance coverage. The right amount depends on local funeral costs, outstanding medical bills or debts, and whether you want to leave a small financial cushion for loved ones.
If you die during a life insurance waiting period, most policies don’t pay the full death benefit. Instead, beneficiaries typically receive a refund of the premiums paid, often with interest. Accidental deaths are usually covered immediately, even during the waiting period.
Yes. Cash-value growth opportunity, withdrawal, and policy loans are available depending on the policy type, and some insurers may allow these benefits for seniors. Whole life and guaranteed issue policies can build cash value over time, which can be borrowed against, though any unpaid loans will reduce the death benefit.
Yes, adult children can help buy or even pay for life insurance policies for parents over 75. Children can purchase a policy to insure their parents, but it’s required that the insured parents give consent and sign the application.
Author
Chief Underwriter
Expert review
Chief Compliance & Privacy Officer
Feb 02, 2026
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